The supply chain platform VeChain has reached a milestone in terms of uptime and processing blocks on the VeChainThor mainnet.
VeChain Foundation Post Achievements made on its Twitter feed on September 1, adding that this is “an important milestone that proves the scalability, security, and rock-solid stability of our public blockchain.”
VeChainThor Network has exceeded 10 million Piece At the time of writing, the 10,004,141th block is currently being processed. In contrast, according to this data, Bitcoin’s uptime has been 99.98% since January 2009 tracking device.
The foundation pointed out that it has seen corporate use by the commercial giant Wal-Mart and adoption by San Marino and the Chinese government, and the project has close ties to the project. VeChain cooperates with Walmart’s subsidiary in China Food tracking in June 2020.
According to the foundation, some major infrastructure updates are underway, such as Proof of Authority 2.0, and “more partnerships and use cases, community dApps, growth, etc.”.
VeChain Proof of authority consensus mechanism is used, which enables the network to process high-speed transactions based on identity and reputation as rights and interests, using only 101 authoritative nodes.
The enterprise supply chain management platform plans to upgrade to a next-generation consensus mechanism called PoA 2.0-SURFACE, which it describes as a “safe, use-case adaptive, and relatively fork-free chain extension method.”
According to VeChain, this upgrade will achieve higher on-chain throughput and reduce the probability of forks, and will have “the highest level of data security that no other blockchain platform has.”
VeChain roll out However, its public testnet and the first two components of the consensus upgrade in late July did not specify the release date of the final mainnet.
Recently, VeChain Announce Established a partnership with the global commercial real estate services company Jones Lang LaSalle. The company is working with VeChain to explore sustainable blockchain adoption to expand its business in China.
On August 26, Cointelegraph reported that VeChain launched a new plan This will help companies track and report their carbon footprint data. It touts the new digital carbon footprint SaaS service as “a rapidly deployable tool that enables businesses of all sizes to redesign their carbon footprint data management practices.”
With the support of recent project development, VeChain’s native token VET has been making considerable gains. VET has risen by 14% in the past 24 hours and is trading at $0.138. Coin Tiger It is now up 60% in the past month-but still 51% below the all-time high of $0.28 set on April 19.